Just as an aside, really ...
having used, for the last 3 years, a mulching mower (a ride-on, on a
large area of grass, as opposed to a lawn), I personally would never buy
a mulcher now.

As I've said before here (I think): it's a great idea for climates where
there are regular long, warm, dry periods, but in this damp country
(especially here Oop North) the clippings do not mulch properly, and --
basically -- make a bloody mess!

But hey: maybe you live in the South East where they get the best of
British summers (as well)!

I don't think you've said how big your lawn(s) will be[1], but if
it/they will be quite big, I'd go for a self-drive mower that has a
large collection bin. And as I've definitely said here befo
"everybody says 'Go Honda'" (where 'everybody' means professional
gardeners that I've asked about mowers).

And I'd make a lovely big compost heap in a hidden corner of the garden:
very satisfying, compost, and a great, cheap, way to get rid of all
garden waste[2].

2p
John

[1] Well, you said 1/4 acre, but is that the garden, or the lawn itself?
[2] Except perennial weeds of course